Strive closes $630M SATS IPO, leaves Bitcoin allocation unspecified
Summary
Strive closed an upsized SATS preferred-stock IPO on Oct. 20, raising $630 million gross and an estimated $608.15 million net. It sold 7 million shares at $90 each. The company has not said how much it will spend on Bitcoin; its filing lists potential uses including BTC purchases, working capital, and acquisitions. SATS carry a cumulative 15% annual dividend on a $100 stated amount, subject to board declaration. If all net proceeds were used to buy Bitcoin at $82,500, Strive could add about 7,372 BTC to its reported 36,818 BTC holdings, but that allocation is only illustrative.
